The livestock contracts were able to close higher again Tuesday afternoon, but the market’s biggest gains were undoubtedly seen in the boxed beef market.
It was a good day for the livestock complex as the futures contracts continued with Monday’s rally. The boxed beef market continues to see robust gains as demand is truly exceptional, but Tuesday’s pork cutout value closed lower, with ham prices seeing the steepest regression.
Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.60 with a weighted average of $100.40 on 5,841 head.
December corn is down 7 1/2 cents per bushel and December soybean meal is down $9.90.